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A6 by ALEXANDRA DAVISdavis.alexandra@dailygleaner.com Information technology advancements are often made possible through investments from various corporations and agencies. The New Brunswick Innovation Foundation provides venture capital investments to companies after performing thorough assessments. The corporation has supported a number of IT initiatives in Fredericton over the years, including local social media monitoring firm Radian6 and the University of New Brunswick's ACENET. Calvin Milbury, president and CEO of the NBIF, said he feels it's important to invest in IT projects. “IT plays a critical role when it comes to finding new and innovative ways to boost productivity, which in turn leads to economic growth,” he said. “Plus, as IT solutions become more affordable, through what they call 'cloud computing,' a new market for software products that can be used anytime from anywhere in the world is growing at rapid speed. “New Brunswick needs to tap into that growth, investing more in the incredible infrastructure we already have to help IT entrepreneurial businesses take flight.” Milbury said the NBIF has invested in capacity development projects related to IT, such as ACENET. “NBIF provided funding to UNB to help it locate a super computing computer on campus here in Fredericton,” he said. “The network is part of a pan-Atlantic initiative…the computer is not only used for research but also by industry so it builds capacity locally for innovation.” He said NBIF provided capital to Radian6 at its outset in 2007. “These funds helped it to develop and market its innovative social media monitoring platform,” he said. “The company is now a market leader and continues to grow from its headquarters located in Fredericton.” The Atlantic Canada Opportunities Agency is another organization that has supported IT initiatives in Fredericton. Erin Filliter, director of communications for ACOA Minister Keith Ashfield's office, said in the past year ACOA has invested more than $7.3 million in New Brunswick IT sector projects.

She said so far in 2010, the agency has contributed to Fredericton companies such as Radian6, Accreon Inc., Fredericton and the Learning Bar Inc. She said ACOA has seen a number of success stories as a result of its investments. “Accreon Inc. of Fredericton is demonstrating that ACOA investments in the IT sector are leading to this sector's economic growth,” she said. “Company sales have grown and the company now expects sales in the Northeast United States. “Investments in Radian6 Technology Inc. of Fredericton have led to expanded markets and significant growth in the company, which have led to an expansion into Nova Scotia.” Filliter said IT industry investments are important to ACOA for several reasons. “Growth of e-commerce will continue, gaining greater strength and use, resulting in more Internet-based IT development opportunities,” she said. “Niche opportunities abound, requiring identification and development by the IT industry.” “There are many opportunities in emerging ICT (information and communication technologies) industries which include photonics, intelligent systems, open source software, ICT/life sciences, converging technologies, digital imaging, strategic map and orientation plan.” She said foreign markets are also ripe with opportunities for New Brunswick IT companies, and that ACOA will continue to support various IT undertakings. “ACOA views the information and communication technology sector as a growth sector and in partnership with the province and stakeholders, will continue to invest in projects and initiatives in New Brunswick's IT sector,” she said. “The sector has significant infrastructure in New Brunswick and is home to over 500 IT firms.” Other organizations have also been involved in IT funding and investment opportunities in New Brunswick, such as Enterprise Fredericton, which partners with ACOA to provide unsecured personal loans to upcoming companies through the SEED Capital Program, and Community Business Development Corporation branches, which offer a number of different programs to assist businesses. Investment opportun-it-ies